‘Kuwait has succeeded in luring foreign investment’

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Minister of Commerce and Industry and the Minister of State for Services, Khaled Al-Roudhan

KUWAIT CITY, Jan 14, (KUNA): Minister of Commerce and Industry and the Minister of State for Services, Khaled Al-Roudhan, on Monday affirmed significance of the achievements in the Kuwaiti economy, recorded over the past two years, namely successful attraction of foreign investments. Al-Roudhan, speaking at the “second Kuwaiti-American economic forum,” has mentioned some of the concrete steps at this level; that foreign investors have been allowed to possess and trade in stocks of Kuwaiti banks, that Kuwait has improved its ranking in the international competition in 2018 and Boursa Kuwait has been uplifted to the level of an emerging market.

Meanwhile, Ali Al-Ghanim, Chairman of Kuwait Chamber of Commerce and Industry, said in a statement following the forum session that the chamber has been seeking to elevate its bonds with many states at the economic levels – namely the ties with the United States of America.

The relations between the United States have significantly improved, particularly following the visit by His Highness the Amir to Washington in 2017, minister Al-Roudhan added. Earlier, the chamber deputy chairman, Abdulwahab Al-Wazzan, said during the session that the US is the second commercial partner for Kuwait, with trade exchanges between the two countries estimated at USD seven billion. The US lured more than half of the Kuwaiti public investments, he said, adding that both the private and public Kuwaiti businesses in America are valued at 600 billion.

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